Mortgage porting: take
your rate with you —
skip the break penalty.

Porting means moving your existing mortgage (the same rate, and usually the same remaining term) from your current home to a new one when you sell and buy. Instead of breaking the mortgage (and paying a penalty) and taking out a brand-new one at today's rates, you carry your existing deal forward. It's especially valuable when your locked-in rate is lower than what's available now.

Most fixed-rate mortgages from major lenders are portable, but not all — some variable-rate mortgages and certain discounted 'no-frills' rate specials are not. The terms are in your mortgage agreement, and they vary by lender. We'll confirm your exact product's portability before you count on it, because assuming wrong can be an expensive surprise.

If your new home costs more and you need to borrow additional money, port-and-increase keeps your existing balance at your old rate and adds the new funds at today's rate — then blends them into a single rate (a 'blended rate'). You get the benefit of your low original rate on most of the mortgage and only pay current rates on the new portion. We calculate the blended rate so you know your new payment.

Yes. Porting isn't automatic — the lender re-qualifies you on the new property: your income, credit, debt ratios, and the new home's appraised value are typically re-checked, and in most cases you must pass the stress test (the greater of your contract rate plus 2% or 5.25%). If your situation has changed (lower income, more debt), that can affect the port, so we review it before you firm up your offer.

Windows vary by lender: some require same-day closings, others allow roughly 30–120 days between sale and purchase. Check your mortgage terms. Close too far apart and you can lose the ability to port and get hit with the break penalty instead. Coordinating these dates is one of the main things we manage on a porting file.

Not always. If today's rates are lower than your existing rate, breaking and refinancing might actually be better even with a penalty. If your rate is lower than today's, porting usually wins. We run both scenarios with your real numbers — current rate, balance, penalty, new amount — and recommend the cheaper one rather than assuming.

You can usually port a portion of your mortgage and pay down the rest, but watch out — paying down more than your annual prepayment privilege allows can trigger a partial penalty. We calculate your prepayment room so you reduce the balance without an unexpected charge.

Generally you can port to another residential property you'll occupy, but moving to something unusual — a rental, a recreational property, or a very rural home — may not fit your lender's porting rules. We confirm the new property qualifies for the port before you commit to it.

As early as possible — ideally before you list or make an offer. Porting depends on timing and re-qualifying, and knowing your numbers up front shapes how you structure your sale and purchase. A quick conversation early can save you from accidentally triggering a penalty or missing the porting window.